{"id":35274,"date":"2025-07-31T15:58:27","date_gmt":"2025-07-31T15:58:27","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/35274\/"},"modified":"2025-07-31T15:58:27","modified_gmt":"2025-07-31T15:58:27","slug":"use-it-up-wear-it-out","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/35274\/","title":{"rendered":"‘Use It Up, Wear It Out’"},"content":{"rendered":"

A simple four-part motto is said to have guided many Americans through the Great Depression: “Use it up, wear it out, make it do, or do without.” Nearly a century later, this resourceful mindset is experiencing an unexpected revival among millennials as they share apartments to save, make “cash stuffing<\/a>” an online trend, rock thrift store finds, and dive into DIY projects.\n<\/p>\n

Today’s millennials are embracing deliberate frugality in ways that would make their great-grandparents proud, focusing on being resourceful, not lavish, and this could be paying off. Since the onset of the pandemic, millennials\u2019 total wealth has jumped an astonishing 137%, far outpacing previous generations at the same age.\n<\/p>\n

Key Takeaways
\n\u00a0The “use it up, wear it out” approach focuses on extracting maximum value from purchases rather than just decluttering, helping millennials avoid unnecessary spending entirely.Every avoided purchase\u2014from smartphone upgrades to fast fashion\u2014can funnel money directly into investments and emergency funds, contributing to a 12.74% net worth increase for millennials in 2024 alone.<\/p>\n

Why ‘Use It Up’ Beats Minimalism <\/p>\n

Buying less and getting rid of clutter gets plenty of social media hype, but \u201cuse it up, wear it out\u201d is about so much more than that. It’s about squeezing the maximum value from every purchase before even considering a replacement.\n<\/p>\n

Many Millennials are turning to practices like holding onto old phones, upcycling old containers, and making household cleaners from simple ingredients. These were actions born of necessity during the Depression, now chosen deliberately for both economic and environmental reasons.<\/p>\n<\/p>\n

The Compound Effect of Not Buying <\/p>\n

The overlooked power move is\u00a0not buying at all. Every time a millennial resists the urge for a smartphone upgrade, fast fashion haul, or takeout dinner, they\u2019re not just saving a few bucks. Over months and years, these decisions pile up not just in cash left unspent, but in dollars funneled into investments and emergency funds.\n<\/p>\n

According to recent data, the average millennial investor has increased their saved and invested assets from $45,600 to $108,130 in just five years. This outstrips Gen X and Baby Boomers over the same period. This savings snowball is fueled not just by higher earnings, but by throttling back on spending.<\/p>\n

Tip<\/p>\n

Consider the compound effect of avoiding spending: skipping a $4 coffee five times a week saves $1,040 annually. Avoiding one $30 impulse purchase monthly saves $360. Stretching a smartphone’s life two extra years saves $1,200. That’s $2,600 that can be invested instead of spent\u2014and over a decade, assuming a 7% return, becomes nearly $3,700.<\/p>\n

Old-School Wisdom Made New <\/p>\n

Today’s millennials aren’t just copying their great-grandparents\u2014they’re upgrading their techniques for the digital age.\n<\/p>\n

Secondhand first: Thrift stores and online marketplaces, such as Poshmark and Facebook Marketplace, can help you find quality goods at a fraction of the price of new ones.Repair and repurpose: When you darn socks, patch up a jacket, or turn an empty jar into a handy container, you’re being sustainable and saving cash.DIY meets YouTube University: When a jacket tears or a phone screen cracks, millennials turn to YouTube tutorials instead of shopping for replacements. The “right to repair” movement has created a whole ecosystem of DIY fixes that previous generations couldn’t access.Intentional budgeting: Cash-based envelope systems and expense trackers are helping Millennials stay disciplined about their spending.<\/p>\n

When Frugality Goes Too Far <\/p>\n

Depression-era wisdom, of course, has its limits. The “do without” mentality becomes self-defeating when it means skipping preventive healthcare, buying poor-quality items that break soon after they arrive, or avoiding investments in education or career development.\n<\/p>\n

Financial experts warn against what they call “false economy”\u2014spending less upfront but more in the long run. Buying cheap shoes that need replacing every six months costs more than investing in quality boots that last five years. Skipping dental cleanings to save $200 can lead to $2,000 in emergency procedures.<\/p>\n<\/p>\n

Bottom Line <\/p>\n

Many Millennials are making the Depression-era motto “Use it up, wear it out, make it do, or do without” their own. They’re choosing to be super resourceful instead of always buying the next new thing. By choosing resourcefulness over retail therapy, they’re avoiding the expensive consumer treadmill that many find a trap. Sometimes the surest path to wealth isn\u2019t buying smart, but not buying at all.<\/p>\n","protected":false},"excerpt":{"rendered":"A simple four-part motto is said to have guided many Americans through the Great Depression: “Use it up,…\n","protected":false},"author":2,"featured_media":35275,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,186,184,185],"class_list":{"0":"post-35274","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-finance","12":"tag-personal-finance","13":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/35274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=35274"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/35274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/35275"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=35274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=35274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=35274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}